China May Postpone Telecom VAT Trials Until June

China Times, 4/03/14

Wang Jun, secretary-general of Chinese tax agency industry alliance Wisemove Tax Cooperation Organization, has disclosed that the implementation of planned telecom operator value-added tax (VAT) trials in China may be postponed until June 1. The trials will reportedly feature two different VAT rates, 6% and 11%.

According to draft legislation submitted by China's Ministry of Finance (MoF) to the National People's Congress (NPC) in early March, the MoF planned to implement telecom industry value-added tax (VAT) trials on April 1, but as of today, China's three major telecom operators have not received a notice regarding a change to the existing VAT. Staff members at the MoF have also not received a policy change notification yet, according to an a MoF employee.

Editor's Note: For more background on this topic, please see "China to Start Telecom VAT Trials in April" MD 3/06/14 issue.

Keywords: trial Wang Jun tax telecom Ministry of Finance NPC government policy

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily